Establish a savings budget. One of the first steps you should take in planning for your child’s future college expenses is to establish a savings goal.

Monthly Savings Goal*

Child's Age

Average Public
(4 Yrs. = $50,000)

Average Private
(4 Yrs. = $124,000)

Average Ivy
(4 Yrs. = $166,000)

Newborn

$312

$ 773

$1,036

Four

$352

$ 871

$1,167

Eight

$417

$1,034

$1,385

Twelve

$544

$1,347

$1,804

Sixteen

$874

$2,167

$2,902

* Assumes 6% annual college cost increase and 6% annual percentage yield. Current costs include approximate average tuition, fees, room, board, and books.This is only an estimate. Your costs and results will vary. Please seek professional advice.